• Q3 net profit down 4.3% to US$29.1m
  • Revenues up 19.4% to $1.02bn
  • Gross margins hit by rising costs
Margins under fire at Jones

Margins under fire at Jones

Apparel and footwear business The Jones Group saw its third quarter reported profits hit by rising costs, despite a 19.4% hike in sales and rising adjusted earnings per share.

Company CEO Wesley Card drew attention to increases in raw materials and freight costs, as well as tight factory capacity, which he said had challenged gross margins.

He added: “We were well-prepared for these conditions and I’m pleased with our performance in the face of these challenges.

“It is a testament to the power of our brand portfolio that sales increased across all of our wholesale divisions.”